The Figure of GDP by Expenditure Approach in the Year of Economic Census

National Bureau of Statistics of China (NBS) released China’s Gross Domestic Product (GDP) by production approach of the economic census year 2004 on December 20, 2005. GDP accounted by production approach was 15.9878 trillion yuan, 2.3 trillion yuan more than the annual report. In accordance with the international practice, NBS also accounted GDP by expenditure approach and released on “China Statistical Yearbook”. Although NBS has released GDP accounted by production approach in the year of economic census, people also focus on the result by expenditure approach. In order to satisfying all levels of public demands, we now release GDP by expenditure approach as follows:

NBS re-accounted GDP by expenditure approach by using the economic census data, that GDP by expenditure approach in 2004 was 16.028 trillion yuan, an increase of 1788.6 billion yuan as compared with that before census. Of which, household consumption increased 483.9 billion yuan, government consumption increased 675.4 billion yuan, gross fixed capital formation increased 276.6 billion yuan, inventory increased 352.7 billion yuan and consumption rate rose from 53 percent before the economic census to 54.3 percent after census, while investment rate decreased from 44.2 percent to 43.2 percent.

Annex: China’s GDP by Expenditure Approach in the  Year of Economic Census (2004)